Fidelity launches MPF Asset Consolidation Reward

To encourage consolidation of MPF accounts

HONG KONG, 5 February 2013 Fidelity Worldwide Investment (Fidelity) today launches a new MPF Asset Consolidation Reward programme. From now until 30 June 2013, MPF members can enjoy a bonus units rebate of up to HK$1,500 by transferring their MPF assets to Fidelity.

 

KP Luk, Head of Institutional Business, Hong Kong, Fidelity Worldwide Investment said, “Many employees have not consolidated their MPF accounts after switching jobs. According to the statistics from the MPFA*, there are approximately 3.9 million MPF Personal Accounts (formerly known as “Preserved Accounts”), translating into an average of 1.5 Personal Accounts per member.

 

“By launching the MPF Asset Consolidation Reward, Fidelity aims to encourage MPF members to take better care of their Personal Accounts. Members should consider consolidating their MPF accounts if they would like to manage their portfolio more effectively. This does not only save time, but also facilitates better management of the allocation of funds in one’s MPF scheme.”

 

The reward is applicable to a minimum total transfer-in amount of HK$50,000. The bonus unit rebates are as follows:

 

Total transfer-in amount (HKD)

Bonus units rebate (HKD)

$50,000 - below $100,000

$300

$100,000 - below $200,000

$600

$200,000- below $300,000

$1,000

$300,000 or above

$1,500

 

*Mandatory Provident Fund Schemes Statistical Digest, September 2012

 

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Terms and Conditions

  1. The promotion period “Fidelity MPF – Asset Consolidation Reward” (“the promotion”) is valid from 14 January 2013 to 30 June 2013 (both days inclusive).
  2. The promotion is applicable to members of Fidelity MPF scheme. A member shall only be regarded as an “eligible member” if he/she completes and submits the required form(s) to trustee of the Fidelity MPF scheme (HSBC Institutional Trust Services (Asia) Limited – Fund Services Hong Kong, Member Services) within the promotion period (based on postal stamp date), and successfully transfers MPF assets of HK$50,000 or above from other MPF service providers to his/her Fidelity account(s) on or before 31 August 2013. Also, the member is required to retain the full amount of MPF assets transferred to his/her Fidelity account(s) until 30 November 2013. The eligible member can receive bonus units rebate from HK$300 up to HK$1,500.
  3. The bonus units rebate will be calculated based on the aggregate amount of MPF assets transferred to the member’s account(s) within Fidelity from other MPF service providers between 14 January 2013 and 31 August 2013 (both days inclusive).
  4. The bonus units rebate will be credited to the eligible members’ respective Contribution Account, existing Personal Account, and/or new Personal Account as member’s voluntary contribution on or before 30 November 2013.
  5. The allocation of the bonus units rebate will follow the investment allocation instruction specified for voluntary contribution portion of the relevant account(s). If there is no investment allocation instruction specified for voluntary contribution portion, the allocation of the bonus units rebate will follow the investment allocation instruction specified for mandatory contribution portion of the relevant account(s). If there is no investment allocation instruction specified for both mandatory and voluntary contribution portions of the relevant account(s), the allocation of bonus units rebate will then follow the default arrangements as set out in the relevant offering document.
  6. FIL Investment Management (Hong Kong) Limited (“FIMHK”) will notify all eligible members in writing for the successful credit of the bonus units rebate in the month of November 2013.
  7. All members must ensure the accuracy of personal particulars and instructions when completing the required form to avoid any confusion and misunderstanding. FIMHK will not be responsible for any incomplete or incorrectly completed forms received, which may cause a delay of processing or disqualification of entitlement to the promotion.
  8. FIMHK reserves the right to vary or cancel the promotion or to modify and/or change the related terms and conditions at any time without further notice.
  9. In case of disputes, the decision of FIMHK shall be final and conclusive.

 

About Fidelity Worldwide Investment

Fidelity Worldwide Investment is one of the global leaders in asset management, providing investment products and services to individuals and institutions in the UK, continental Europe, the Middle East and Asia Pacific. Established in 1969, the company has over 5,000 staff in 24 countries and manages or administers client assets of US$300.7bn. It has over 5 million customer holdings and manages around 700 equity, fixed income, property and asset allocation funds. The company’s fund managers receive research from one of the largest proprietary research teams, based in 12 countries around the world. Fidelity Worldwide Investment is an independent asset management company which is privately owned.

 

Data as at 31 December 2012

 

Media Contact:

 

Kate Cheung 

Manager, Corporate Communications

Tel: +852 2629 2641

Email: kate.cheung@fil.com